Great West Life Assurance Co. Can boosted its position in shares of Leggett & Platt, Incorporated (NYSE:LEG – Get Rating) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,190 shares of the company’s stock after acquiring an additional 3,728 shares during the quarter. Great West Life Assurance Co. Can owned 0.08% of Leggett & Platt worth $3,361,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its position in Leggett & Platt by 25.4% during the second quarter. State Street Corp now owns 18,185,179 shares of the company’s stock worth $636,663,000 after acquiring an additional 3,678,871 shares in the last quarter. BlackRock Inc. raised its position in Leggett & Platt by 2.9% during the first quarter. BlackRock Inc. now owns 14,575,438 shares of the company’s stock worth $507,226,000 after acquiring an additional 406,267 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Leggett & Platt by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,879,061 shares of the company’s stock valued at $169,791,000 after purchasing an additional 265,480 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Leggett & Platt by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,691,135 shares of the company’s stock valued at $58,865,000 after purchasing an additional 61,408 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Leggett & Platt by 37.1% in the first quarter. Invesco Ltd. now owns 1,142,780 shares of the company’s stock valued at $39,769,000 after purchasing an additional 309,100 shares during the last quarter. 69.42% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have commented on LEG. The Goldman Sachs Group decreased their price objective on shares of Leggett & Platt from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, October 12th. StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Friday, January 6th. Truist Financial decreased their price objective on shares of Leggett & Platt from $41.00 to $35.00 in a report on Tuesday, October 11th. Piper Sandler downgraded shares of Leggett & Platt from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $31.00 to $24.00 in a report on Monday, December 12th. Finally, TheStreet downgraded shares of Leggett & Platt from a “b-” rating to a “c+” rating in a research note on Thursday, October 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $37.25.
Leggett & Platt Trading Down 0.8 %
Leggett & Platt (NYSE:LEG – Get Rating) last posted its earnings results on Monday, October 31st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Leggett & Platt had a net margin of 6.86% and a return on equity of 22.32%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 earnings per share. On average, analysts forecast that Leggett & Platt, Incorporated will post 2.36 earnings per share for the current fiscal year.
Leggett & Platt Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Thursday, December 15th were issued a $0.44 dividend. The ex-dividend date was Wednesday, December 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.09%. Leggett & Platt’s dividend payout ratio (DPR) is currently 66.42%.
Leggett & Platt Profile
Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding, Flooring, Furniture & Textile, and Specialized Products. The Bedding Products segment supplies products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire.
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